The
Connecticut Maritime Association is a non-profit organization which
was built by its members, for its members, and as such is one of
kind.

Unlike many
similar organizations which are supported largely by corporate membership,
the CMA's voting membership is comprised only of individuals. From
bunker brokers and tug-boat operators to lawyers and underwriters,
to ship owners, brokers and managers, shippers and merchants of
all kinds of cargo, each CMA member has an equal and separate vote.

The CMA was
created as a self-help group of shipping people, and remains a conduit
for the exchange of information and a source of camaraderie and
fellowship that is unique and vital to the shipping community. In
2014, the CMA celebrated its thirtieth anniversary. It prospers
with over 1,500 members representing nearly 500 companies and organizations.

President's
Notes

Events

March
2018

PRESIDENT'S
NOTES

March
is always such an exciting time for your CMA! Shipping 2018
is nearly upon us, and we are confident that it will be the
great event that our community has come to expect. This year's
Conference, titled "Profits and Values," will cover
a wide range of issues, from regulations and leadership to
autonomous shipping, bunkers, health of seafarers, and a case
study of the loss of the El Faro and her crew. There is no
doubt that we will all leave the Conference more knowledgeable
than when we arrived.

On Wednesday
evening, we will have the honor to present the Commodore Award
to Sabrina S. M. Chao, Executive Chairman of Wah Kwong Maritime
Transport Holdings Limited. On behalf of your Board, we hope
to see all of you at the Conference. There will truly be something
for everyone there, and it's always a great opportunity to
see old friends, and make some new ones as well.

Our February
CMA lunch was very interesting, and the subject matter may
have generated more questions to our guest than any other
lunch in my memory. Our speaker was Mr. Mutal Dave, of Shipowner.io.
I hesitate somewhat to try to describe what they do, but I
think I'm safe to say that in short, it is a platform to buy
and sell shares of vessels on line using cryptocurrency. The
idea is to allow vessel Owners direct access to capital, while
at the same time provide individuals wider access to participation
in the Maritime industry. The Q&A period was indeed active,
and it was certainly very interesting. If you want more information
about them, their website is https://shipowner.io .

On February
23rd, I had the honor and pleasure to attend the keel laying
ceremony of the new Harbor Harvest cargo vessel at Derecktor
Shipyard in Mamaroneck, NY. It will be the first hybrid cargo
vessel to be built in the United States, and comes from the
very forward thinking mind of CMA's own Bob Kunkel. In conjunction
with his market in Norwalk, Harbor Harvest, which specializes
in local and sustainable goods (and does a great job, by the
way!), this vessel will be used to transport meat, dairy and
produce between Connecticut and Long Island, reducing the
transportation time, getting trucks off of I-95, creating
jobs, and with its hybrid power plant, reducing the carbon
footprint normally associated with transporting these goods.
A market disruptor like this doesn't happen every day, and
we couldn't be more proud than to see Bob at the helm of this
project. Well done!

Finally,
as I write this, President Trump has just announced that the
US will be imposing a new 25% tariff on steel imports, and
a 10% tariff on aluminum imports. Although it has already
been announced, the details of this policy have not yet been
fully determined, and so there are many questions that will
take time to answer. However, our trading partners have made
it clear that they are unlikely to remain quiet in regard
to this issue. The EU, Mexico, China and Canada have already
announced that they are weighing retaliatory measures against
our exports. What this will mean for us in shipping remains
to be seen. How will it impact tonnage availability and freight
rates? Will it cause tonnage to be redistributed in ways that
we may not expect? How might this impact US exports and the
owners, traders and brokers who re-ly on these trades to earn
their living? There is no doubt that by March 12th, when Shipping
2018 begins, we will have answers to some questions, and we
may be able to start to formulate ideas and answers to other
questions when we are all together at the CMA Conference.
We hope to see you there!

Joe
GrossCMA President

Event
Calendar

For
Reservations for all CMA Events please call Lorraine
at +1.203.406.0109 Ext 3717
or email
conferences@cmaconnect.com
or
LParsons@marinemoney.com